Cordel Group: Edison
Software and comp services - AIM - Mcap: £7m - Price: 3.5p - Flash
Positive steps towards ambitious FY24 goals
Cordel’s Q324 update shows progress towards the group’s FY24 revenue expectation and other objectives, supporting our forecasts. Doubling the customer base by year-end is a key milestone, which encouragingly looks set to come in part from tier-one US railroads, offering the greatest scope for large seven-figure contracts from its target markets. Developments with Amtrak, as Cordel moves to the five-year service phase, and Angel Trains in the UK provide positive indicators for stable recurring revenue and upsell opportunities. Top-line progress is supported by investments already made in sales and delivery, underpinning forecast margin expansion.
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Analyst
Max Hayes
Technology analyst
tech@edisongroup.com
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